this post was submitted on 17 Dec 2023
317 points (77.6% liked)

Technology

59689 readers
3200 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
317
Five People Founded Tesla, But Only Elon Musk Became Extremely Rich (open.substack.com)
submitted 11 months ago by [email protected] to c/[email protected]
106 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 9 points 11 months ago

7 million is "retiring doctor" or "retiring Google engineer" rich.

It's generally considered safe to withdraw 4% of your nest egg the first year, and adjust that for inflation moving forwards. $7 million can sustain a $280k/year retirement. That's certainly rich, but there's a world of difference between that and a billionaire. A billionaire can safely spend $40 million a year.